Australia Lithium Exports to Soar in Five Years, Resource Export Earnings to Hit New High in 2023

SHANGHAI, Apr 4 (SMM) - Lithium will generate as much revenue as coal for Australia by the 2027-2028 fiscal year as countries around the world race to switch from fossil fuels to clean energy, the Australian government's five-year outlook released on Monday showed. According to the forecast of the Australian Department of Industry, the country's resource export revenue will hit a new high this year.

While the global demand for coal has passed its peak, the growth in demand for minerals such as lithium, nickel, copper and rare earths will accelerate.